Sinclair Broadcast Group said Wednesday that it swung to a first-quarter profit, helped by a smaller debt extinguishment loss. Sinclair reported earnings of $16.4 million, compared with a loss of $2.4 million a year ago.

CROWN MEDIA improves

Crown Media said Wednesday that it narrowed its first-quarter loss to $14.7 million, compared with $40.2 million a year ago, as advertising revenue and affiliate fees increased. Revenue rose 32% to $70.6 million.

COX BEATS STREET

Cox Radio posted quarterly results that beat market estimates as it managed costs effectively amid a tough environment for ad-based media. For the first quarter, Cox's net income was $12.8 million, compared with $13.5 million a year ago. Revenue fell 2.9% to $97.8 million.

SPOT RUNNER investors

Spot Runner, a tech-driven advertising services company, said Wednesday that it has raised $51 million from new investors, including Daily Mail and General Trust, Grupo Televisa and Groupe Arnault/LVMH.